Develop new growth areas to raise semiconductor demand: MIDA
17 Mar 2023
Malaysia needs to develop new growth areas, including the renewable energy and electric vehicle (EV) sectors, to increase the demand for semiconductor chips in this country.
Malaysian Investment Development Authority (MIDA) deputy chief executive officer (investment development) Lim Bee Vian said the demand would strengthen Malaysia’s economic growth as one of the main suppliers in the global semiconductor chain.
“Malaysia (despite) being a small country contributes between 12 per cent and 13 percent to the global chip supply. So we are important in that sense.
“We should promote the EV sector as a new growth area because this sector will help increase the demand for chips,” she said during a press conference and a meeting between EG Industries Bhd and MIDA on Smart Warehouse and International Procurement Centre (IPC) here today.
She said IT infrastructure services and solutions another area that needed focus to ensure that the demand for chips remained high.
Lim said the awareness among industry players on the need to adopt smart warehousing is growing because it improves efficiency.
“The investment for smart warehousing is high. Big companies are moving toward that direction, especially big logistic companies. Small companies may have certain elements of smart warehousing but these are not fully integrated.
“MIDA encourages companies to upgrade their warehouses because this will help decrease the need for foreign labour to run their warehousing operations and also to raise efficiency,” she said.